Novartis Ag-adr (NVS) Financial News - UPDATE 2-Greenhill profit jumps as investors fret
Novartis Ag-adr (NVS)
UPDATE 2-Greenhill profit jumps as investors fret
2011-07-18 05:50:28
Keywords: Australia, Richard Chang
Quote: The results had been expected to be
released later this week. Analysts, on average, had expected earnings of 33 cents a
share, according to Thomson Reuters I/B/E/S. Revenue rose 9 percent to $90.8 million in the quarter,
driven by a 38 percent surge in revenue from the firm's
financial advisory activities. The company founded by Robert Greenhill, the former
president of Morgan Stanley (MS.N) and former chairman and
chief executive of Smith Barney, said deals that closed in the
second quarter -- like the sale of Alcon Inc to Novartis AG
(NOVN.VX) -- helped its results. The company is also advising AT&T (T.N) on its $39 billion
bid for T-Mobile. "We are seeing a significant rebound in North American
activity, continued strength inAustralia and the beginnings
of a rebound from an extended difficult period in Europe,"
Chairman Robert Greenhill said in a statement. "While our current level of productivity remains far below
what we achieved historically, we believe we are well
positioned to return to our historic level of productivity as
and when transaction activity continues to rebound."(Reporting by Michael Erman; Editing by Richard Chang)...
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Novartis Ag-adr Stock Summary
Novartis AG, through its subsidiaries, engages in the research, development, manufacture, and marketing of healthcare products worldwide. Its Pharmaceuticals division offers prescription medicines in various therapeutic areas, including cardiovascular and metabolism; oncology; neuroscience and ophthalmics; respiratory; integrated hospital care; and other additional products. The company?s Alcon division provides various eye care products consisting of ophthalmic surgical equipment, instruments, disposable products, and intraocular lenses; medicines to treat chronic and acute diseases of the eye, and over-the-counter medicines for the eye; and contact lenses and lens care products. Its Sandoz division offers prescription medicines, as well as pharmaceutical and biotechnological active substances. This division provides active ingredients and finished dosage forms of pharmaceuticals; active pharmaceutical ingredients and intermediates, primarily antibiotics; protein or biotechnology-based products; and cytotoxic products for the hospital market, as well as offer biotech manufacturing services to other companies. The company?s Vaccines and Diagnostics division provides human vaccines and blood testing and molecular diagnostics products. This division sells influenza, meningococcal, pediatric, and traveler vaccines; and nucleic acid technology blood-screening products to prevent the spread of infectious diseases. The company?s Consumer Health division consists of two divisions, including over-the-counter medicines that offer readily available consumer medicines; and Animal Health, which provides veterinary products for farm and companion animals. Novartis AG was founded in 1895 and is headquartered in Basel, Switzerland.
